Kroger Stock Forecast
Kroger stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on May 02, 2024)
The Kroger stock price gained 0.584% on the last trading day (Thursday, 2nd May 2024), rising from $54.77 to $55.09. During the last trading day the stock fluctuated 0.88% from a day low at $54.74 to a day high of $55.22. The price has been going up and down for this period, and there has been a -0.86% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 211 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $178.86 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $54.97 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 24.41% during the next 3 months and, with a 90% probability hold a price between $68.39 and $77.41 at the end of this 3-month period.
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KR Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Kroger stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $55.48 and $56.17. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 02, 2024, and so far it has fallen -4.72%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Kroger stock
On the downside, the stock finds support just below today's level from accumulated volume at $50.49 and $49.61. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Kroger finds support just below today's level at $50.49. If this is broken, then the next support from accumulated volume will be at $49.61 and $44.99.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.480 between high and low, or 0.88%. For the last week the stock has had daily average volatility of 1.20%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KR) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Kroger Company (The) to open at $55.02, and during the day (based on 14 day Average True Range), to move between $54.19 and $55.99, which gives a possible trading interval of +/-$0.90 (+/-1.63%) up or down from last closing price. If Kroger Company (The) takes out the full calculated possible swing range there will be an estimated 3.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $55.48 (0.71%) than the support at $50.49 (8.35%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Kroger Company (The) stock A Buy?
The Kroger stock holds several negative signals and despite the positive trend, we believe Kroger will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.854 Sell Candidate Downgraded
Predicted Opening Price for Kroger Company (The) of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $55.02 ( 0.133%) | $55.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 55.50 | 0.738 % | |
| R2 | 55.31 | 0.405 % | ||
| R1 | 55.20 | 0.200 % | ||
| Current price: | 55.09 | |||
| Support | S1 | 54.83 | -0.466 % | |
| S2 | 54.72 | -0.672 % | ||
| S3 | 54.54 | -1.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 57.13 | 3.70 % | |
| R2 | 55.97 | 1.60 % | ||
| R1 | 55.48 | 0.708 % | ||
| Current price | 55.09 | |||
| Support | S1 | 50.49 | -8.35% | |
| S2 | 49.61 | -9.95% | ||
| S3 | 44.99 | -18.33% |
KR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 14, 2024 | May 14, 2024 | Jun 01, 2024 | $0.290 | 0.526% |
| 2 | Jan 19, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0.290 | 0.590% |
| 3 | Sep 14, 2023 | Nov 14, 2023 | Dec 01, 2023 | $0.290 | 0.650% |
| 4 | Jun 22, 2023 | Aug 14, 2023 | Sep 01, 2023 | $0.290 | 0.631% |
| 5 | Mar 09, 2023 | May 12, 2023 | Jun 01, 2023 | $0.260 | 0.582% |
FAQ
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